v3.26.3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
 9 Months Ended
Sep. 30, 2026
Sep. 30, 2025
Cash flows from operating activities    
Net loss $ (12,273,715) $ (11,772,288)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 242,916 381,177
Stock-based compensation expense 938,174 605,355
Issuance of Placement Agent warrants 94,709
Loss on warrant liabilities 1,218,235 3,810,278
Changes in operating assets and liabilities:    
Accounts and other receivables (200,182) 690,214
Inventory (55,206) (7,626)
Prepaid expenses and other assets 88,791 (30,331)
Accounts payable 187,117 (46,550)
Accrued expenses (574,762) (414,175)
Unearned revenue 6,469 13,511
Operating lease right-of-use asset 26,239 1,156
Net cash used in operating activities (10,301,215) (6,769,279)
Cash flows from investing activities    
Purchase of property and equipment (172,683) (60,567)
Net cash used in investing activities (172,683) (60,567)
Cash flows from financing activities    
Proceeds from issuance of Common Stock from direct offering 7,200,000 9,271,534
Proceeds from exercise of warrants 4,813,742
Proceeds from issuance of Convertible Preferred Stock 990,000
Payment of offering costs for financing activities (540,497) (1,418,459)
Payment on loans payable (11,795)
Proceeds from loans payable 32,199
Principal repayments on finance leases (117,552) (251,272)
Net cash provided by financing activities 6,574,150 13,393,750
Net (decrease) increase in cash and cash equivalents (3,899,748) 6,563,904
Cash and cash equivalents at beginning of period 6,449,782 1,105,291
Cash and cash equivalents at end of period 2,550,034 7,669,195
Supplemental disclosures of cash flow information:    
Operating lease right-of-use assets obtained in exchange for operating lease liabilities 151,778
Interest expense paid in cash 37,123 3,655
Income taxes paid in cash $ 40,861

Source

10-Q XBRL Zip